Russell Roberts
Question about tax benefits of "Real Estate Professional"
Can unused passive losses carried forward from prior tax years be used against active income in the current tax year, if the taxpayer has qualified per IRS rules to become a "Real Estate Professional" in the current t...
John Hyre
Pass-Thru Deduction, Landlords, New Regs
Panic! Landlords Cannot Take New Pass-Thru Deduction! NOT.The IRS just came out with proposed regulations on the awesome new Pass-Thru Ded...
Johnoson Crutchfield
How Tax Returns Affect Real Estate Investor Bank Financing
I don’t see a clear answer to this on the forums. I keep having bankers say “be careful with reporting losses on your taxes because it could make you unbankable.” What does this mean? How do you make sure that you ...
Jason McDougall
Seller has IRS liens, need advice on how to get partial release
Happy Monday BP!I've been working with a seller that is trying to sell 3 houses that are part of his father's estate. The IRS has a lien against his father's estate in the amount of $330k, and I have a contract with t...
Arsalan Augend
Acquisition time for RE Professional Status
I know acquisition time or commute time do not count for 500 hours material participation in rental properties but couldn’t find any regulation saying they don’t count for that 750 hours total RE involvement. if that...
Ellie Narie
How do you do a 1031 exchange for a house-hack with 2 owners that own as JTWROS?
I am selling a 4 unit property that is owned by my partner and I as joint tenants with rights of survivorship. As in, we both own 100% of the property. We both occupied one unit for 2 out of the last 5 years. The othe...
Michael Periu
Accounting for real estate property taxes
Good evening! These forums are great. I'm writing to ask about best practices or common approaches to accounting for property taxes.
Here the tax bill comes out in November of each year. If you pay in November you ge...
Matt Good
SFR to multi family?
Can you 1031 your 1 SFR into 1 multi family or even multiple multi family's? Yes, it's an expensive house. I've been told that it has to be a "like" exchange. Please help!
Samantha Klein
CPA NEEDED....
Hi, I am asking a question for my father, his only income is social security, he gets $975 a month. He sold a collector car he's had for more than a year last month and he's made a capital gain of 30k, he wants to kno...
Tereal Wilsonn
Selling a Rental in a LLC with Partners, 1031 exchange?
Selling a Rental in a LLC with Partners, 1031 exchange?Bought a home with family in 2013 for 5k in midtown detroit, we held it rented and now the market has turned and we have an offer of 150K, i have a huge stake in ...